SAN DIEGO, CA--(Marketwired - Feb 6, 2014) - The American Consumer Council announced today that CFS2, a Tulsa-based debt collection agency, has earned its Gold-Level 2014 "Friend of the Consumer" award. In an industry that is known for its unfriendly collection tactics and under-handed pressure, CFS2 has officially been designated a "friend" of consumers.
According to Thomas Hinton, President and CEO of the American Consumer Council, "CFS2 is the only collection agency that has ever earned our Friend of the Consumer Award. Even more remarkable, this is the second consecutive year for CFS2 to receive this recognition. This tells us CFS2 is an exceptional company with exceptional leadership and a culture of treating consumers with respect and fairness."
Hinton added, "Our independent panel of judges cited several factors that earned CFS2 our highest award. The judges were very impressed by the fact that CFS2 is serving the needs of consumers in remarkable ways such as employment assistance and debt negotiation services. Clearly there are millions of consumers who desperately need help as the economy continues to recover from the worst recession in memory." He added, "CFS2's leadership to reform the debt collection industry goes far beyond what we have seen anywhere in this tarnished industry, and there's much to be admired about CFS2 and its approach to doing business."
According to Bill Bartmann, CEO of CFS2, everything is part of a grand design. "For decades now collection agencies and credit card debt buyers have gotten away with unethical practices for how they treat consumers and collect debt. They have created enormous negative publicity for the major banks who sell their charged-off loans to collection agency debt buyers. The problem has become so great that the Comptroller of the Currency, the government regulator of big banks, has issued cautionary guidelines to banks to take special care for the risks of dealing with debt buyers."
Bartmann continued, "When debt buyers abuse consumers through filing lawsuits based on defective and fraudulent documents, the situation is clearly out of control. In 2013 about 10 million lawsuits were filed by debt buyers and our estimate is that about 72% were based on fraud. The banking industry simply can't tolerate that level of abuse of consumers."
"CFS2 was founded on the premise that debt collection could be done in a fashion that was both honorable and that respected the dignity of consumers. Our strategies are never based on litigation but instead focus on helping consumers to regain financial stability. That is why we devote our efforts to helping consumers who are unemployed to find jobs and acting as an advocate for consumers in dealing with their other creditors. To us it makes perfect sense that a consumer who is in an improved financial condition can better take care of their obligations."
"Clearly CFS2 is doing something right when thousands of their customers send letters of thanks for the valuable help they and their families received free of all cost. Our panel of judges was very impressed. So many of their customers have gone out of their way to express appreciation. That would be a real mark of success for any company but especially so for a debt collection company," remarked Hinton. "The American Consumer Council is proud to recognize their accomplishments."
The American Consumer Council is a non-profit membership organization, founded in 1987, that is dedicated to consumer education, advocacy and financial literacy. ACC achieves its mission by serving the economic interest and consumer needs of its 144,000+ members and 44 state/regional consumer council affiliates. Visit: www.americanconsumercouncil.org